Prediction Markets Will Be Available to Phantom's 20 Million Users Through Kalshi

Phantom, a popular cryptocurrency wallet, has announced a collaboration with Kalshi, a U.S.-regulated event trading platform, to introduce prediction markets to its 20 million users. This new feature enables users to participate in event-based trading directly within the wallet interface.

Phantom users will now have the ability to trade on real-world outcomes, such as U.S. election results, significant macroeconomic developments, or cryptocurrency price movements, all without leaving the app. Additionally, Phantom is integrating a new chat function within these marketplaces, which will provide a social dimension to the prediction trading experience.

Users can open trades using Solana-based tokens like SOL, USDC, or Phantoms own stablecoin, CASH, as well as meme tokens like Fartcoin (FART). Phantom's CEO, Brandon Millman, highlighted these options during his appearance at the Solana Breakpoint event in Abu Dhabi on Friday.

This move is in line with the growing trend of crypto wallets incorporating a wider range of features, such as stablecoin support, perpetual contracts, and prediction markets, as they seek to provide users with an all-in-one interface for cryptocurrency management.

Phantom's integration of Kalshi follows a similar move by MetaMask, Ethereum's leading wallet, which added Polymarketa competitor to Kalshifor on-chain prediction markets. Earlier this year, Phantom also introduced its own in-app stablecoin, CASH, issued by Stripe, and expanded its offerings with perpetual contracts and tokenized stocks.

Prediction markets have become an increasingly popular sector, bridging the gap between traditional finance and crypto, especially after gaining traction during events like the 2024 U.S. presidential election.

Kalshi operates under the oversight of the U.S. Commodity Futures Trading Commission (CFTC). However, recent legal developments in Nevada have raised concerns about the regulatory landscape for prediction markets, as a federal court ruling suggested that contracts based on sports events might fall under state gambling laws.

Sources:

• Prediction Markets Are Coming to Phantom's 20M User Via Kalshi